The Real Deal Miami

Dreier accomplice arrested

December 23, 2008 05:59PM

A former stock broker was arrested Monday night and charged with aiding Marc
Dreier, a New York attorney arrested earlier this month for allegedly defrauding investors of more than $300 million. Kosta Kovachev, 57, is
accused of posing as a development executive to help Dreier convince
investors to purchase fake notes issued by that developer. The
developer is widely believed to be Solow Realty, though the company is
not identified in court documents. Kovachev was charged with conspiracy to commit wire fraud, which carries a maximum sentence of five years in prison and fines.